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Jan 16, 2013
01/13
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debt, it would join standard and poor's, which took that action in 2011 during the last debt ceiling debate. the u.s. house moved to pass a hurricane sandy relief bill this evening. $17 billion would go for immediate recovery in the affected northeastern states. another $33 billion is for long- term spending. some republicans argued that much of the money isn't for emergency relief at all. california's tom mcclintock called for stripping that funding out. >> according to the congressional budget office, more than 90% of this money won't even be spent this year. that's not emergency relief. $16 billion is to quintuple the size of the community development block grant program. that's the slush fund that pays for such dubious projects as doggie day care centers and doesn't even have to be spent in the hurricane area. >> sreenivasan: other republican >> sreenivasan: other republicans joined with most democrats to reject offsetting spending cuts. instead, lawmakers from the northeast urged the house to pass the storm aid now. new york democrat hakeen jeffries said it's already taken too l
debt, it would join standard and poor's, which took that action in 2011 during the last debt ceiling debate. the u.s. house moved to pass a hurricane sandy relief bill this evening. $17 billion would go for immediate recovery in the affected northeastern states. another $33 billion is for long- term spending. some republicans argued that much of the money isn't for emergency relief at all. california's tom mcclintock called for stripping that funding out. >> according to the congressional...
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Jan 21, 2013
01/13
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house will vote wednesday on raising the national debt ceiling. republican leaders announced today the extension lets the government continue borrowing money until may 19. the current debt ceiling-- $16.4 trillion-- could be reached as early as mid-february. the house bill does not specify a new dollar amount. it does mandate that congress approve budgets, or lawmakers won't be paid. major league baseball lost two hall of famers over the weekend. st. louis cardinals great stan musial-- "stan the man"-- died saturday at his home just outside the city. he played 22 years, helping the cards win three world series titles in the 1940's. he was widely regarded as one of game's greatest hitters ever. stan musial was 92 years old. also saturday, former baltimore orioles manager earl weaver passed away, during a caribbean cruise. weaver won the world series in 1970, and took his teams to three others. along the way, he gained fame for his fiery, in-your-face confrontations with umpires. he was ejected from games 91 times over 17 seasons. earl weaver was 82
house will vote wednesday on raising the national debt ceiling. republican leaders announced today the extension lets the government continue borrowing money until may 19. the current debt ceiling-- $16.4 trillion-- could be reached as early as mid-february. the house bill does not specify a new dollar amount. it does mandate that congress approve budgets, or lawmakers won't be paid. major league baseball lost two hall of famers over the weekend. st. louis cardinals great stan musial--...
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Jan 17, 2013
01/13
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FOXNEWS
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they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american action forum. just as a general rule, steven, when you heard the president speaking in that news conference, was he generally being honest with the american people about the state of our finances? >> well, i would say there were some things he said that were true, some things that he said that were, i think, misleading. importantly, he didn't put into proper context the discussion that we're having nationally about the debt ceiling and about the state of our finances more broadly. if you look at where we are, more than $16 trillion in debt, the president is right when he says that
they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american...
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Jan 21, 2013
01/13
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be held wednesday to raise the debt ceiling temporarily. why would they do something like this, which might seem at first blush to be backing down. there were a couple of reasons, scott. first of all they looked at polling when they were out there at that retreat it looks like the polling that you were just talking about. it showed that americans by a pretty significant margin trust the president over house republicans when it comes to things like the deficit which is one of their signature issues. and spending and the economy. what republican leaders were trying to convey to some of their more junior members, perhaps who like the idea of really holding the white house's feet to the fire on issues like this, if we want to be seen as a governing party not just an opposition party that is constantly threatening to take the government in to a shutdown or default we are going to have to show that we are reasonable. and the fact is that they are going to hold this vote now and they still get another bite of the apple three months from now to try
be held wednesday to raise the debt ceiling temporarily. why would they do something like this, which might seem at first blush to be backing down. there were a couple of reasons, scott. first of all they looked at polling when they were out there at that retreat it looks like the polling that you were just talking about. it showed that americans by a pretty significant margin trust the president over house republicans when it comes to things like the deficit which is one of their signature...
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Jan 19, 2013
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on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans gave up. david corn "showdown," the stand off the president faced with republicans. thanks for being here. >> good to be here, rachel. >> eric cantore said, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are a couple of things to think about here. i call this plan r for run away. but we know that john boehner often has had trouble with his various plans. plan b most notoriously, getting them approved, accepted and passed by his own house republicans. and cantore made a very declarative statement today. there already immediately were grumblings that some house republicans will go along with this i'm not sure that democrats will, too. it remains to be seen whether, indeed, john boehner and cantore can get passed what they want to do. then again this is just a
on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans gave up. david corn "showdown," the stand off the president faced with republicans. thanks for being here. >> good to be here, rachel. >> eric cantore said, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are...
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Jan 15, 2013
01/13
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you say fighting over the debt ceiling is a bad idea for congressional republicans. why? >> because in the end it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side and the fact is republicans have two much bet ear renas to fight over spending they have a continuing resolution which funds government which comes up at the end of march and they have the sequester, which automatically cuts spending unless it's dealt with. those two fronts they can fight and they have much less resistance from the average american, and it's much harder for the president to oppose them. >> speaker boehner said yesterday that the american people do not support raising the debt ceiling without reducing government spending at the same time. so do you disagree with speaker boehner? >> i think that if you get involved in a fight over the debt ceiling, and talking about defaulting which is what the consequences if the
you say fighting over the debt ceiling is a bad idea for congressional republicans. why? >> because in the end it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side and the fact is republicans have two much bet ear renas to fight over spending they have a continuing resolution which funds government which...
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Jan 20, 2013
01/13
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house republicans agree to raise the debt ceiling. one condition stay with us. ♪ ♪ gerri: republicans go for a short-term increase in the debt ceiling, but how can we tackle ♪ gerri: retreating or regrouping? house republicans putting to a vote raising the debt ceiling for three months, but are thy backing off of their demands for spending cuts in exchange for raising the debt limit? with more on this, grover norquist, president for americans for tax reform. great to have you here. other republicans doing the right thing? >> i think so. there are three tools the republicans have to force obama to focus on spending, which she does not want to do it and will do unless forced. first is the sequester which starts march 1st or 2nd. that is a hundred billion dollars per year. that is the real cut in spending that will happen. the other one is the continuing resolution which starts march 4/7. we have a continuing resolution. they are the republicans that can put obama on a very short leash and only give him a continuing resolution for
house republicans agree to raise the debt ceiling. one condition stay with us. ♪ ♪ gerri: republicans go for a short-term increase in the debt ceiling, but how can we tackle ♪ gerri: retreating or regrouping? house republicans putting to a vote raising the debt ceiling for three months, but are thy backing off of their demands for spending cuts in exchange for raising the debt limit? with more on this, grover norquist, president for americans for tax reform. great to have you here. other...
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Jan 14, 2013
01/13
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the other thing coming up is the debt ceiling. something most americans had not even heard of before two years ago. i want to be clear about this -- the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it aallows the -- it allows the country to pay for spending that congress has already attended to. these are bills that we need to pay. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with congress about whether or not they should pay the bills they've already racked up. if congress am republicans refuse to pay america's bills on time, social security and veterans benefits will be delayed. we might not be able to pay our troops, small business owners, food inspectors, air traffic controllers, specialists who track down loose nuclear materials wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go hayw
the other thing coming up is the debt ceiling. something most americans had not even heard of before two years ago. i want to be clear about this -- the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it aallows the -- it allows the country to pay for spending that congress has already attended to. these are bills that we need to pay. so while i'm willing to compromise and find common ground over how to reduce our deficits,...
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Jan 13, 2013
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chris: they win. >> they're afraid of a debt ceiling confrontation or actually defaulting on the debt. they don't want to be blamed for that. >> the tea party people are not here to legislate. they're here to de'mon strailt. -- to demonstrate. they didn't get to do it on the fiscal cliff in the end. they want to do it to something and go over the edge. and this will take them over the edge and they will lose politically and the president is going to have to scramble to shut things down. and credit ratings will be affected. chris: when is the public going to make a verdict on whether they like that kind of behavior? >> they sort of did in the last election. chris: and 12 of our regulars including you, howard, can president obama split off enough republicans to win the big fights copping up on debt and the budget -- coming up on debt and the budget and guns? eight say yes. four say no. howard, you voted with the majority nt at least on the debt and budget issues and you're wary on the gun thing. >> yeah. and for the reasons that john was saying. because a lot of democrats who will be ru
chris: they win. >> they're afraid of a debt ceiling confrontation or actually defaulting on the debt. they don't want to be blamed for that. >> the tea party people are not here to legislate. they're here to de'mon strailt. -- to demonstrate. they didn't get to do it on the fiscal cliff in the end. they want to do it to something and go over the edge. and this will take them over the edge and they will lose politically and the president is going to have to scramble to shut things...
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Jan 15, 2013
01/13
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he began by drawing a line in the sand over the looming debt ceiling debate but cbs reporter danielle nottingham shows us the conversation quickly turned to gun control. >> the president of the united states. >> reporter: president obama used the last press conference of his first term to call out republicans who are threatening not to raise the debt limit. >> so to even entertain the idea of this happening of the united states of america not paying its bills is irresponsible. it's absurd. >> reporter: republicans want drastic spending cuts in exchange for increasing the amount the government can borrow but the president says he will not have the debt ceiling tied to the bills congress has already wrapped up. >> what i will not do is to have that negotiation with a gun at the head of the american people. >> reporter: the debt ceiling deadline is just one of three budget showdowns the white house and congress face in the coming months. house speaker john boehner said if lawmakers don't tackle the debt and spending at the same time it will cost jobs. in a statement, senate majority lead
he began by drawing a line in the sand over the looming debt ceiling debate but cbs reporter danielle nottingham shows us the conversation quickly turned to gun control. >> the president of the united states. >> reporter: president obama used the last press conference of his first term to call out republicans who are threatening not to raise the debt limit. >> so to even entertain the idea of this happening of the united states of america not paying its bills is irresponsible....
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Jan 14, 2013
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ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require businesses to veri
ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer...
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Jan 13, 2013
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the debt ceiling fight that's on the horizon. is this going to impact the broad economy in the earning season, do you think? >> i guess this whole political thing is these are all the bricks in the wall of worry that equity markets are continuing to climb. you know, we know how to talk about these things, they're out there, in the media a lot. we follow them sometimes like a sport. maybe we exaggerate a little bit how much these political match nations, i don't want to minimize them but i think sometimes we miss the point that there are really good companies out there who figured out how to make really good money with all of this political noise going on. >> and yet, greg, so many potholes ahead. you know we're going to see a lot of back and forth over raising the debt ceiling, sequestration is still on the horizon now. less than two months away. the continuing resolution. i want you to take a listen to the president's spokesperson this week on the debt ceiling and get your reaction to that. >> sure. >> he will not negotiate with
the debt ceiling fight that's on the horizon. is this going to impact the broad economy in the earning season, do you think? >> i guess this whole political thing is these are all the bricks in the wall of worry that equity markets are continuing to climb. you know, we know how to talk about these things, they're out there, in the media a lot. we follow them sometimes like a sport. maybe we exaggerate a little bit how much these political match nations, i don't want to minimize them but i...
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Jan 16, 2013
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>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our children's future and we balance our budget. we can do that. i think most americans will agree. >> neil: you got to wonder, if the mainstream media that republicans are being obstructionists if they dare reject raising the debt ceiling but they didn't do it to a single democrat seven years ago including senator barack obama, then republicans are damned no matter what they do? >> it's part of the strategy of this administration on fiscal cliff, on all kinds of issues is to frighten people, frighten seniors. we need to reassure seniors with their truth, their social security and m
>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our...
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Jan 20, 2013
01/13
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WBAL
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, for example, i think the most racially divis
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the...
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Jan 21, 2013
01/13
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ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we no
ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a...
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Jan 13, 2013
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money, we've got the debt ceiling argument coming up here. the government's going to run out of money at the end of february if something isn't done. do you see more of the same what we saw during this fiscal cliff or is this something better on the horizon. >> wouldn't that be great if i could say yes but i can't say yes. remember when the election ended and it looked like this was going to be an era of compromise. john boehner came out and said of course we want to work with the president. the president said of course we want to work with the public. that was shattered within about 20 minutes after both men said that. and so i don't think we're looking at compromise anywhere, it's really about who can get their way by trying to intimidate the other side more. so democrats not the president but other democrats saying hey here's a way that's not compromise. we're going to print a coin, a trill undollar coinen dollar coin. think of this sort of establishment republican saying how about a partialual shut down of the government to get what we wa
money, we've got the debt ceiling argument coming up here. the government's going to run out of money at the end of february if something isn't done. do you see more of the same what we saw during this fiscal cliff or is this something better on the horizon. >> wouldn't that be great if i could say yes but i can't say yes. remember when the election ended and it looked like this was going to be an era of compromise. john boehner came out and said of course we want to work with the...
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Jan 15, 2013
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debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the
debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new...
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Jan 15, 2013
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he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something representative barber says he still supports the second mainedment. >> i feel very strongly that the second amendment should be protected and the supreme court has ruled and there's no question it is a right that all americans have a right to bear arms or have a rifle for that matter. but the issue of the magazines which were used in the shooting in tucson in january of 2011 that's one that we need to take a hard look at. the shooter in our case had 30 bullets in the magazine one more in the chamber in less than 45 seconds 19 people were down and 6 were killed. i saw my boss shot through the head i saw
he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something...
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Jan 15, 2013
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i will not negotiate over the debt ceiling. congress has to do its job. >> woodruff: when it comes to the republicans jake sherman, you've been talking to some of the folks on the hill. they were digging in their heels just as much as the president was. what was their reaction? >> i think they have... they see this situation as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the beginning of march. they want to use these opportunities. they don't think it's so bad to shut down the government or to default on the debt. they are even skeptical of the administration's estimates of when that will happen. so they see themselves really having very little leverage besides doing something which a lot of americans would consider extreme which is defaulting on the debt or shutting down the government. now i think it's virtually impossible that speaker john boehner will raise the debt ceiling without commensurate spending cuts. he's wa
i will not negotiate over the debt ceiling. congress has to do its job. >> woodruff: when it comes to the republicans jake sherman, you've been talking to some of the folks on the hill. they were digging in their heels just as much as the president was. what was their reaction? >> i think they have... they see this situation as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the...
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Jan 19, 2013
01/13
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house republicans agree to raise the debt ceiling. one condition stay with us. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. let's say you pay your guy around 2% to manage your money. that's not much you think. except
house republicans agree to raise the debt ceiling. one condition stay with us. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not...
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Jan 21, 2013
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ceiling has to have tax loopholes closed. speaker boehner brought the 800 billion in loop whole closures in the beginning of the fiscal cliff negotiation that should be a part of this deal. despite the fact that the president wanted rate increase on the fiscal deal and that's all they want. >> you can see the democrats and white house believe they have the argument in their back pocket. they offered once they can call on it again if they are going to concede on any spending cuts. none have been discussed at least in the short term are going to solve the problem. the only way you solve the problem is by structural entitlement reform. you have to change the trajectory. it is not 50 billion from defense spending there. it would have an impact in our capability in context with the military but the only way you get serious and change the trajectory of the debt is to have entitlement reform. >> what does that take? we are europe and finally we have to do something about it? >> i think charles's point this is a president who wouldn'
ceiling has to have tax loopholes closed. speaker boehner brought the 800 billion in loop whole closures in the beginning of the fiscal cliff negotiation that should be a part of this deal. despite the fact that the president wanted rate increase on the fiscal deal and that's all they want. >> you can see the democrats and white house believe they have the argument in their back pocket. they offered once they can call on it again if they are going to concede on any spending cuts. none...
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Jan 20, 2013
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how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the american people said by god, get something done. >> are they right? >> look, it did work. boehner has also indicated he's not going to deal with the president one-on-one. they're going to go through the regular order. the senate is going to have to do something, the house is going to have to do something. they're going to meet in congress and send it to the presidency. i think the president's legacy to go big, to get a grand bargain, to have long-term economic growth but also to have a legacy of fiscal sustainability could be his major legacy piece. and i think even though he wants to do guns, even though
how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the...
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the debt ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month, if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets had could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. >> jared, how does this play out? >> well, we're beginning to hear lots of sounds from republicans that are more in a compromising mode than we heard a week ago. right now they're talking about perhaps an increase in the debt ceiling that lastins for a coup months. frankly, and russ may agree with me here, i don't think markets would react very approvingly to basically just another lurch from crisis to crisis. it wasn't too long ago that, maria, you and i were in these chairs talking about the fiscal cliff. now the debt ceiling. do you want to have this discussion two months from no
the debt ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month, if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets had could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. >> jared, how does this play out? >>...
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ceiling. the piece points out by mid february or early march the united states could face an unprecedented default unless it raises the debt ceiling. that was from tim geithner. further into the body of the "new york times" story i want to is share with you some of the numbers "the new york times" points out today. that could happen as early as february 15, if that happens by february 15 or early march, according to the by partisan policy center in analysis of what the government expects is $8 billion in revenue that day but it has $52 billion in spending that day, $6.8 billion in tax refunds, $3.5 in federal salaries, and $1.5 ode to military contractors and other commitments. consider again that day on february 15 f that is the day we reach the limit, the country would not have enough money to pay the bond holders let alone anyone else, more over analysts have raced questions about whether the treasury would be able to reprogram the ought mated payment system to prioritize some payments over
ceiling. the piece points out by mid february or early march the united states could face an unprecedented default unless it raises the debt ceiling. that was from tim geithner. further into the body of the "new york times" story i want to is share with you some of the numbers "the new york times" points out today. that could happen as early as february 15, if that happens by february 15 or early march, according to the by partisan policy center in analysis of what the...
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they are folding on the debt ceiling. they are hoping the timing will be better to deal with the sequestration with the debt ceiling but that is cosmetics. john is right. the premise of your question is right. this is a party that lost its way, lost its vision, lost its approach and the president is trying --. >>gregg: the president's approval rating is 53 percent and negative 48 percent and that is almost the lowest of any second-term president in six decades. nixon did better than that. however, look at the house of representatives republicans. they are showing disapproval rating at 73 percent. >> they have been perceived at negative, out of touch positions that are not popular. >>gregg: gay rights and tax rights? >> and they fit into the demonization they are protecting the rights of the rich. >> they do not have a pro growth agenda, creating jobs, they do not have a message. >>gregg: and the republican party is out of touch according to six in ten. five in ten, they rank poor on climate change and women's issue. >> th
they are folding on the debt ceiling. they are hoping the timing will be better to deal with the sequestration with the debt ceiling but that is cosmetics. john is right. the premise of your question is right. this is a party that lost its way, lost its vision, lost its approach and the president is trying --. >>gregg: the president's approval rating is 53 percent and negative 48 percent and that is almost the lowest of any second-term president in six decades. nixon did better than that....
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. >> now the ongoing debate on capitol hill over the debt ceiling. charles krauthammer is taking on the on thepresident's approach. the president isn't interested in fixing the problem but instead breaking the gop. >> the entire strategy for the fiscal cliff was to split the republica republicans. it hading in to do, his offers had nothing do with solving the fiscal he shall ue or solving the debt. he showed no interest in reducing the debt since the day he was elected in 2008. he appoints a commission two years later he ignore it is. he never talked about structural cuts or entitlements. he wants the entitlement states if you want a european entitlement state you need taxation. his strategy is to split, fracture and therefore neuter the republicans in the house. that is all that stands between him and total dominance in washington in his second term. he wants a return to 2009 and 2010 when he had control of both houses he had a super majority in the senate huge majority in the house and revolutionized healthcare and hugest spending in galactic histo
. >> now the ongoing debate on capitol hill over the debt ceiling. charles krauthammer is taking on the on thepresident's approach. the president isn't interested in fixing the problem but instead breaking the gop. >> the entire strategy for the fiscal cliff was to split the republica republicans. it hading in to do, his offers had nothing do with solving the fiscal he shall ue or solving the debt. he showed no interest in reducing the debt since the day he was elected in 2008. he...
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ceiling, and your own history on the debt ceiling. and doesn't that suggest that we are going to go into a default situation because no one is talking to each other about how to resolve this? >> well, no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult. i went through this just last year. but what's different is we never saw a situation as we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. and the fact of the matter is, is that we have never seen the debt ceiling used in this fashion, where the notion was, you know what, we might default unless we get 100 percent of what we want. that hasn't happened. now, as i indicated before, i'm happy to have a conversation about how we reduce our deficits further in a sensible way. although one thing i want to point out is that the american people are also concerned about how we grow our economy, how we put people back to
ceiling, and your own history on the debt ceiling. and doesn't that suggest that we are going to go into a default situation because no one is talking to each other about how to resolve this? >> well, no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult. i went through this just last year. but what's different is we never saw a situation as we saw last year in which certain groups in congress...
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let's talk about the debt ceiling. is it an overrated crisis? our next guest is from austin, texas, james galbraith, university of texas economist. also the author of "inequality and instability." we want to talk to but the debt ceiling, particularly entitlements, james. what is your sense, if today and now is not the time to cut entitlements, when is the time to cut entitlements? >> i don't think it's a good idea, from the standpoint of the future of the american economy to reduce the security that people expect in their old age. so we're talking about social security here. talking about mid care. we're talking about medicaid. these are foundations for the future life of most of the working population of the country at the moment. if you cut them, people will draw back in their current activity, at least to some degree. >> right. >> so you're basically saying you're going to do something which will squeeze people's living standards out in the future. it will not have any direct effect today on economic activity. except to the extent that people
let's talk about the debt ceiling. is it an overrated crisis? our next guest is from austin, texas, james galbraith, university of texas economist. also the author of "inequality and instability." we want to talk to but the debt ceiling, particularly entitlements, james. what is your sense, if today and now is not the time to cut entitlements, when is the time to cut entitlements? >> i don't think it's a good idea, from the standpoint of the future of the american economy to...
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>> he already said he doesn't think anything should be tied to the debt ceiling. it's something you shouldn't play with the full faith and credit of the united states. what is interesting about this, coming out of the republican retreat that just occurred, there are some republicans within the republican house, republican caucus who actually agree with him on the sense that you don't play with the debt ceiling as the point to which to make cuts. there are other issues coming up like the continuing resolution and sequester cuts where they would like to make their last stand there for cutting getting spending cuts and allow on temporary extension without not much attached to it. >> heather: let's talk about the economy. the president starts his new term. less than 1% rate it as excellent. 9% say it's good shape. that is up a touch from his first inauguration but 91% of voters say economic conditions negatively today. why are we here again? >> you have to wonder. i point you back to november the conditions haven't changed all that much in two months. i would imagine
>> he already said he doesn't think anything should be tied to the debt ceiling. it's something you shouldn't play with the full faith and credit of the united states. what is interesting about this, coming out of the republican retreat that just occurred, there are some republicans within the republican house, republican caucus who actually agree with him on the sense that you don't play with the debt ceiling as the point to which to make cuts. there are other issues coming up like the...
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exactly. what the republicans are saying is look, we maxed out the credit card. it's time before we extend any new credit or allow any new credit to do something aboutbe the spending that got us here. that would seem on the surface to be a reasonable argument. but so far, the republicans have not been able to win it. and what tends to happen in the fights when you get all of this late hour melodrama as we have had in the last cou
translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has...
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the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist to vice president biden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going forward as we continue through this earnings period? >> i think in the short term, it is. i think we're probably going to hit a road bump in february. the reason i say that is we've got a lot of flows coming into the market early in the year. people were nervous in december. they're coming back in to stocks. that's a good thing over the longer term. we do have some issues coming up. the debt ceiling obviously one of them. the second question is we start to get the economic data. how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit
the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist to vice president biden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going...
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but they want it separated from debt ceiling. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that the republican decision or is it going to be played, conflict in washington, gridlock, both parties to blame? >> well, the president said in the press conference i think people will blame all of washington, but he didn't mean it. and he doesn't believe it. he thinks, and i think rightly thinks, that the political onus will be on the republicans. the president said we aren't a deadbeat nation, which is one of many great quotes in that press conference. >> i like that word, deadbeat. >> we aren't a deadbeat nation, and he said the republicans will turn us into a deadbeat nation if they do what they're threatening -- >> if somebody else objects to the question, if there's a different answer, i'll accept it. did the democrats ever play the game of not paying the bills of the united states government as
but they want it separated from debt ceiling. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that the republican decision or is it going to be played, conflict in washington, gridlock, both parties to blame? >> well, the president said in the press conference i think people will blame all of...
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okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling and he must have gone through the same idea 15 times. saying this is about honoring the obligation and paying the bills we have already incured. he raised the debt ceiling on how to depend on the ongoing financial assistance from the foreign country to finance the reckless, fiscal pollty. the point of raising the debt ceiling is to allow to us borrow. he talked about the debt ceiling a dozen times. not once did he use the word "borrow." that means we are going to continue to borrow for every dollar the government spend, only 60 cents of it come from
okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling...
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debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without delay. a
debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these...
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i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was
i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not...
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debt ceiling as a leverage point to get the president to agree to the cuts? >> i think that would be a grave mistake. i don't think that would solve anything. i know they're going to try it. how far we'll go, i have no idea. if you're a real conservative, really honest conservative without hypocrisy, you want to pay your debt. and that's what this is. they're not running up anything new. >> former senator chuck hagel, the man nominated to be the next secretary of defense picked up two key voices of support, chuck schumer and barbara boxer. two prominent democrats. they spoke separately with hagel to discuss the record. hagel eased their concerns after spelling out where he stands on issues ranging from iran and israel. to the treatment of gays in the military. there will be plenty of pageantry during president obama's inauguration on monday. the official swearing in will have taken place the day before. you see the constitution requires a president's term to start on january 20th which falls on a sunday this year. john roberts will administer the oath of offi
debt ceiling as a leverage point to get the president to agree to the cuts? >> i think that would be a grave mistake. i don't think that would solve anything. i know they're going to try it. how far we'll go, i have no idea. if you're a real conservative, really honest conservative without hypocrisy, you want to pay your debt. and that's what this is. they're not running up anything new. >> former senator chuck hagel, the man nominated to be the next secretary of defense picked up...
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susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups who are saying we shouldn't pick a fight when it comes to the debt ceiling. maybe it's better to pick a fight over shutting the government down rather than risking the default of the government when it comes to raising the debt ceiling. this is a significant development. it shows a lot of people thought we were looking ahead to the debt ceiling and the republicans had a lot more leverage. that can call it into question. >> that are sounds like the president describes. i use the word lurching to the next crisis ahead. it was the fiscal cliff and then it wa
susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups...
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what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount of leverage and interconnected with everything else and sort of see what happened in 2008. it's also this issue of, you know, who gets paid? if you start to have to say maybe soldiers get paid but not paying for the fuel or these doctors will get paid, you know, government is a huge force in our economy. like it or not. and the number of companies that would really be affected from walmart to every defense contractor to giant health care companies, if their ability to collect money that is owed to them is then put in doubt, that triggers a whole, you know, range of activities of ot
what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount...
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one of them is the debt ceiling fight. and the final one is the continuing resolution which is the stop gap thing because we haven't had a budget for four years. i agree with you. i think the president has the high ground there. he has a big weapon in his arsenal there. you have to give the president his way on that. >> if you pay the debt but you have to apportion out the money, the term for that is default. >> mark, my basic view is this is going to get done. but i'd like to move the last minute further out. if these guys need three to six months to do it up right and get a compromise. i'm willing to give them four to six months extra time. >> settling a debt ceiling issue is in the interest of the president and of our country. you have today fitch came out and threatened to decrease the credit rating and they are doing it in a way that areckless because you have outside observers looking at us and i want to highlight a point you made earlier which is the fact that all spending bills are in the constitution. we are looki
one of them is the debt ceiling fight. and the final one is the continuing resolution which is the stop gap thing because we haven't had a budget for four years. i agree with you. i think the president has the high ground there. he has a big weapon in his arsenal there. you have to give the president his way on that. >> if you pay the debt but you have to apportion out the money, the term for that is default. >> mark, my basic view is this is going to get done. but i'd like to move...
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they play to hold the debt ceiling hostage. aides say half the conference is ready to let the nation default. speaker boehner will school them on the real threat later this week. even a temporary extension for, say, two or three months could rattle the markets and threaten the nation's credit rating. last time they hashled out a debt deal? summer of 2011 and we ended up more than a trillion dollars in mandatory spending cuts and congress still hasn't addressed and delayed again until march. we start with nbc's peter alexander outside the white house. peter, the president also told congress if they don't want to take the political risk of raising the limit, give him the power. he'll do it himself. >> reporter: that's clear f. you aren't going to do it, i'll do it myself. in essence today, toure, he basically dared congress not to up the debt ceiling today. obviously, one of the comments he said that i think is pretty interesting is saying in his own language, they will not collect a ransom in exchange for not crashing the econom
they play to hold the debt ceiling hostage. aides say half the conference is ready to let the nation default. speaker boehner will school them on the real threat later this week. even a temporary extension for, say, two or three months could rattle the markets and threaten the nation's credit rating. last time they hashled out a debt deal? summer of 2011 and we ended up more than a trillion dollars in mandatory spending cuts and congress still hasn't addressed and delayed again until march. we...
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ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we no
ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a...
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house republicans agree to raise the debt ceiling. one condition stay with us. ♪ ♪ [ male announcer ] how could a luminous prote in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. ♪ gerri: republicans go for a short-term increase in the debt ceiling, but how can we tackle our long-term problems? grover norquist year in 60 seconds. ♪ ♪ gerri: retreating or
house republicans agree to raise the debt ceiling. one condition stay with us. ♪ ♪ [ male announcer ] how could a luminous prote in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with...
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Jan 16, 2013
01/13
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CNBC
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ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more efficient fashion. the federal government should do the same thing, and president obama is the one person who can lead on this issue. grow the economy by bringing in some certainty to it. if he wants to fight hard for tax rate increases, he ought to be fighting just as hard for spending cuts. >> you know, governor, he made an interesting point during his news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this deb
ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more...